New York, Oct. 25 - Avcorp Industries Inc. said it has lowered the per-unit price and increased the size of its planned private placement.
The deal is now for up to C$3.375 million, increased from up to C$3.2 million as announced on Aug. 29.
The non-brokered offering now includes up to 3.75 million units at C$0.90 each instead of up to 3.2 million units at C$1.00 each.
The units are comprised of one share and one half-share warrant. The whole warrants are exercisable at C$1.00 per share for a year, down from C$1.20 each for one year.
The proceeds will be used for working capital.
Based in Vancouver, B.C., Avcorp makes airframe structures for aircraft companies.
| Issuer: | Avcorp Industries Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$3.375 million
|
| Units: | 3.75 million
|
| Price: | C$0.90
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.00
|
| Pricing date: | Aug. 29
|
| Modified: | Oct. 25
|
| Stock price: | C$1.08 at close Aug. 29, C$0.82 at close Oct. 25
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
